Morin Company's bonds mature in 6 years, have a par value of $1,000, and make an annual coupon interest payment of $85.

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answerhappygod
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Morin Company's bonds mature in 6 years, have a par value of $1,000, and make an annual coupon interest payment of $85.

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Morin Company's bonds mature in 6 years, have a par value
of $1,000, and make an annual coupon interest payment of $85. The
market requires an interest rate of 6.1% on these bonds. What is
the bond's price?
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